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Spanish service sector expands modestly in October
Spain’s services economy expanded during October for a second successive month, supported by a slight increase in new work and the continued reduction in work outstanding. Recruitment of additional staff also led to higher activity, amid some positivity about the future with optimism amongst service providers remaining in positive territory. However, the latest survey revealed the continuation of rising operating expenses. Underpinned by higher salary, utilities and rental costs, input price inflation remained historically high. Firms sought to protect their margins by raising their own charges at a stronger pace. ... (full story)